CriptoRobot Review (2023)

CriptoRobot offers a vast of investment proposals with a fast gaining potential and an extensive list of crypto instruments through its platform that allows easy trade of cryptocurrencies. That is what the company stating, however, the information on the official website presented very poor while it is not clear what are the trading conditions if there are any safety measures implemented or even what is the trading environment. As there are many “nor very reliable” companies appearing daily and presenting themselves as the best option in the trading world any trader should be very suspicious about the company he plans to trade with.

With our opinion CriptoRobot is not the company to believe in, as in the glance the first issue is their non-regulated status and mislead about the company location, means there is no legal status of the company. And this is just the first alert, furthermore, a general offering is not clear and confusing while the financial world and investment should be sharp and transparent. In addition to the negative reviews from the traders, while the broker mainly targets Spanish speaking population, the Spain authority issued warning to potential clients and advises to stay far from the CriptoRobot. There are plenty of authorized brokers that perform various security measures to provide the best trading offering and of course, it is better to choose a legal broker from UK, Europe or other regulated entity.

“The CriptoRobot entity and persons is not authorized to act in the securities markets and to render the investment services or to perform the activity reserved for collective investment schemes (CIS). Only registered companies have obtained authorization since they have provided proof that they meet certain requirements (sufficient capital, organization and adequate means, etc.) and are subject to supervisory body controls.”

CNMV, Spain. May 2018.

Conclusion

In any case, we never advise trading with an offshore or non-licensed broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no any guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a companies means the trader will believe only on the broker’s words, and of course, it is a high risk.

Rather than involving yourself to the risk of losing capital, we would recommend choosing among well regulated and reputable companies. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FBS and BlackBull Markets.